Adani Enterprises’s arm, Adani Defence Systems & Technologies Ltd (ADSTL) on Tuesday said it will acquire MRO operator Air Works for an enterprise value of ₹400 crore.
The company said that Air Works was the country’s biggest and highly-diversified independent maintenance, repair and operations (MRO) with the largest pan-India network presence across 27 cities. Air Works had developed extensive operational capabilities within the country for key defence and aerospace platforms.
From the first P-8I aircraft Phase 32 checks to Phase 48 checks and MRO on the landing gear of the Indian Air Force’s 737 VVIP aircraft, Air Works undertakes base maintenance for Air Transportation Rack (ATR) 42/72, A320 and B737 fleet of aircraft from its EASA and Directorate General of Civil Aviation (DGCA)-certified facilities at Mumbai, Delhi, Hosur and Kochi.
According to industry reports, the Indian MRO market is expected to grow three times to USD 5 billion by 2030 from USD 1.7 billion at present.